British retailers are pinning their hopes on a bumper Black Friday after dismal figures showed sales slumped last month. Pre-Budget jitters were blamed for shoppers holding back on spending in October, as sales volumes dropped 0.7 per cent according to the Office for National Statistics (ONS).
A 'notably poor month' for fashion was the driving force behind the slump, according to ONS senior statistician Hannah Finselbach. Clothing stores fell 3.1 per cent, following end-of-season sales growth in the month before.
But Finselbach added: 'Retailers across the board reported consumers held back ahead of the Budget'. Mild weather also meant shoppers have waited to fork out on winter coats and hats. But retailers are hoping discounts will boost sales in the critical 'golden quarter' ahead of Christmas.
Black Friday is traditionally an American shopping discount day but has...
Emily Hawkins.
